elucidated in the case of State
of Punjab v. Bajaj Electricals Ltd. , (1968) 2 SCR 536. It has
been opined:-
"3. The expression
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Bench: S
Patanjali Yogpeeth (Nyas), Delhi vs Adit(Exemption), New Delhi on 9 February, 2017
1
IN
Lucknow Development Authority , ... vs Acit (E), Lucknow on 10 March, 2022
I.T.A. Nos
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आयकर अपील
य अ धकरण, अहमदाबाद
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Page 1 of
Gymkhana Club , AIR 1968 SC 554, 562; State of Punjab v.
Bajaj Electricals Ltd. , AIR 1968 SC 739, 741).
The term ―commerce‖ has also
Gymkhana Club , AIR 1968 SC 554, 562; State of Punjab v. Bajaj
Electricals Ltd. , AIR 1968 SC 739, 741).
The term "commerce
Trustee Loka Shikshan Trust 101. ITR 234, State of
Punjab vs. Bajaj Electrical Ltd. (1968) 2 see 536, Khodey Distillary Ltd
liberal arts or learned professions or agriculture [ State of
Punjab v. Bajaj Electricals Ltd. ,(1968) 70 ITR 730, 732
(Sc)]. If a person buys goods ... case of State of Punjab and Another v. Bajaj Electricals
Ltd
(1968) 70 ITR 730(SC), it has been held that essential condition for
carrying
